Women’s representation in senior corporate positions in India has declined, with their share of Corporate Executive roles at companies featured in the Avtar-Seramount Best Companies for Women in India study falling to 16.7% in 2026 from 20% a year earlier.
Overall, women’s representation across the companies surveyed fell to 34.6% from 35.7%, while their share of hiring declined to 36% from 38%, according to the 11th edition of the study.
The findings come after years of progress in women’s representation at the senior-most levels. Avtar Managing Director Saundarya Rajesh attributed part of the setback to a global pullback in diversity, equity and inclusion (DEI) initiatives following an executive order issued by U.S. President Donald Trump in January 2025.
“We knew that there would be challenges for women working for these companies in India,” Rajesh said, referring to the impact of the U.S. policy shift on American companies and their Indian operations.
She said the retreat from DEI efforts was also affecting the broader Indian corporate market, as practices adopted by large multinational companies have historically influenced other employers.
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The study covered 387 companies, of which 125 were named among the Best Companies for Women in India. Women accounted for 31.4% of the workforce at India-headquartered companies in the cohort, compared with 41.1% at US-headquartered firms and 39.2% at companies headquartered elsewhere.
At the Corporate Executive level, women’s representation stood at 14.2% at India-headquartered companies, 18% at US-headquartered companies and 20% at firms headquartered in other countries.
Rajesh also pointed to the growing impact of artificial intelligence on employment, saying AI-driven “jobless growth” was affecting women more sharply.
Despite the decline in representation, companies continue to report a strong business case for workplace inclusion. The proportion of Best Companies reporting an increase in operating profit as a result of inclusive practices rose to 79.2% in 2026 from 70% in 2025.
The study also highlighted challenges in retaining women after maternity leave. While 94% of women return to work immediately after maternity leave, the proportion retained after one year falls to 79%. The study did not establish whether women who leave subsequently move to other organisations or exit the workforce altogether.
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Health and wellbeing have also emerged as a bigger factor in women’s workforce exits, overtaking childcare. About 30% of women cited health and wellbeing challenges as a reason for leaving, compared with 28% who cited childcare.
Overall attrition, however, remained the same for women and men at 20.4%, the study found.
How reliable is the data?
The study is based on information voluntarily submitted by participating companies. Asked whether the data is independently verified and whether companies could exaggerate their submissions, Rajesh said Avtar cross-checks responses across the questionnaire, seeks supporting documentation and challenges figures that do not add up.
She said companies may have their scores reduced—or receive no score for a particular section—if they are unable to substantiate a claim. However, she stopped short of calling the process an audit. “I won’t use the word audit because that has a certain, you know, gravity of its own,” she said.
Instead, Avtar relies on “hard numbers” and asks companies to provide evidence for claims related to areas such as women’s representation, promotions and sponsorship.